Unemployment edges down to 9.4% in December, 103k jobs added

The Bureau of Labor Statistics reported that the unemployment rate dropped to 9.4% in December with 103,000 jobs added. Private sector employment increased by 113,000 jobs, while government cut 10,000 jobs.

Let’s breakdown the numbers:

The unemployment rate for high school drop outs was 15.3%, down from 15.7% last month.

4.8% of college graduates were unemployed, down from 5.1% the previous month.

The jobless rate for high school graduates was 9.8%, down from 10.0%.

9.4% of men 20 and over were unemployed, down from 9.9%.

Women 20 and over had an unemployment rate of 8.1%, down from 8.3%.

25.4% of 16 to 19 year olds were unemployed, up from 24.5% last month.

Jobless rate among whites was at 8.5%, down from 8.9% last month.

15.8% of blacks were jobless, down from 16.0% the prior month

The moderate drop in the unemployment rate gave some economists hope that a jobs recovery was on its way for 2011.